The Hindu Business Line : They mean business

A peep into the portals of the Indian Institute of Foreign Trade (IIFT). The institute says its courses help equip its students with all the skills they need to take on business challenges, at home and in global arenas.

During the months of October and November, the Indian Institute of Foreign Trade (IIFT) is abuzz with excitement. The reason: The first step of its admission process (selling of application forms) for two-year full-time MBA - International Business (IB) gets under way.

Sumanta Mohanty, an aspirant, already an engineer says, "An MBA in International Business at IIFT is a complete programme which equips you with the practical nuances of conducting international business in a competitive environment. This will be the acme of my career." There is a similar response from future aspirants who crowd the portals of IIFT to purchase application forms.

The IIFT, New Delhi, was set up in 1963 by the Government of India as an autonomous organisation to help professionalise the country's foreign trade management and increase exports by developing human resources; generating, analysing and disseminating data; and conducting research. Since its inception, the IIFT has come a long way as a centre of excellence in the field of international business. It has always been pro-active in adapting to the changing needs of the corporate sector, shifting its focus from being merely a training institute in foreign trade to an integrated international business school.

Located in the Qutab Institutional Area in the vicinity of JNU and IIT, spreadover six acres of land, with a building that is an architectural marvel, overlooking the green ridge and part of Aravali range and the historical Qutab Minar, the campus provides an ideal environment for academic excellence.

Keeping pace with the changing dynamics of the international business environment, the Institute is constantly upgrading its diverse portfolio of long-term programmes for aspiring international business executives and mid-career professionals. These include a two-year, full-time MBA (IB) at New Delhi and Dar-es-Salaam, Tanzania, a three-year MBA (IB), New Delhi, Executive Masters in International Business, New Delhi, Dubai and Dar-Es-Salaam and a Certificate Course in Export Management, New Delhi and Guwahati.

Known for its niche in the field of international business, the Institute's two-year, full-time MBA is a unique business management programme. Meticulously designed to meet the growing international business challenges, the course develops a competent cadre of business executives.

As unpredictable developments in the international market and the consequential impact of the same in the domestic market can create ripples in the economy, these students are trained to handle such eventualities with confidence and competence. Says the first director of the Institute, Prabir Sengupta, "If you want to equip yourself adequately in this competitive world through development of management skills, leadership qualities and the values needed to face the challenges of any business, be it in India or anywhere in the world, IIFT is the right place for you."

MBA (IB), a fully residential programme, is the USP of IIFT. The programme aims at providing a comprehensive coverage of international business, incorporating all the important subject areas and disciplines relevant to the subject. Equal emphasis has been placed on the quantitative and analytical approach to the study of international business management. The course also attempts to provide comparative perspectives in many facets of international business by covering methods of doing business as well as trade and business practices beyond classroom teachings.

Says Randheer Bhardwaj, a final-year student, "An MBA programme develops an aptitude for theory and practice. My project work relating to consumer behaviour, done during the international trade fair as part of my course, provided me with a clear strategy for repositioning our products effectively."

Recognising the importance of communication in international business, special attention is given to proficiency in any one of the three languages currently on offer — French, German and Spanish.

As part of the academic curricula, a visit to a port town is arranged, which gives students an opportunity to acquire first-hand knowledge about the working of the port administration, the customs collectorate, shipping and other trade-facilitating agencies. In addition, interactive sessions with corporate managers are also arranged during the visit.

The Institute has a well-equipped library, three computer centres with Local Area Network and 24-hour Internet access, both in the institute and the hostel. "It provides a stimulating intellectual and an extra-curricular activity-oriented atmosphere," says Bhardwaj.

Student activities have helped IIFTians grow into promising corporate managers. The latest in the series of achievements has been the prestigious award of "Young Managers of the Meet" organised by BITS, Pilani.

Recent Deemed University status has been the institute's value addition. Now, it can award Masters and Doctoral Degrees. This will help its students to pursue higher studies in any part of the world.

The Institute lays emphasis on forging international ties with regional as well as international organisations such as IATTO, UK, Academy of International Business (AIB) in the US, UNCTAD, Al Ghurair University, Dubai, Institute of Financial management, Tanzania, and, the latest in the series is George Mason University in the US.

Research occupies a critical place in the activities of the Institute. It was intensified with the setting up of specialised centres on specific core areas such as the Centre for International Trade in Technology (CITT) currently working on EU-India Project on Knowledge Management and Centre for WTO Studies exclusively focusing on WTO issues.

Finally, the lasting impression any b-school makes outside its boundaries is directly proportional to its placement. Last year, the Institute achieved astounding success in providing placement to its entire MBA (IB) batch in the first three days, with an average salary of Rs 5.5 lakh per annum. Major recruiters were HLL, DRL, GAIL, EXIM Bank, Olam International, Singapore and ITC.

"The economy is looking up, so we are expecting a jump of 20 per cent this year," says a Placement Committee member. A former IIFTian, Atul Gogna, Project leader, Boston Consulting Group, Jakarta, says, "A global perspective seeps into your psyche at IIFT, in everything you do."

Adds Sengupta, "At IIFT, we are alert to the fact that a global vision is imperative to effectively tap the emerging opportunities thrown up by the increasing integration of economic activities across national boundaries."

However, getting admission for an MBA (IB) is a tough and rigorous task, as last year, out of 27,000 candidates who wrote the entrance exam only 100 finally made it.

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